ADMS 1010 Lecture Notes - Lecture 11: Knowledge Economy, Tacit Knowledge, Explicit Knowledge

• School: York University
• Department: Administrative Studies
• Course: ADMS 1010
• Professor: Eytan Lasry

Document Summary

Entrepreneurship: creating new wealth-producing resources or endowing existing resources with, not age or size, but an activity innovation is at the heart of that activity enhanced potential for creating wealth. Industry and market changes: demographic changes (quantifiable stats of a given population, changes in perception, new knowledge. Principles of innovation: analysis of the sources of new innovation, go out, ask, listen, simple/focused, start small. Tacit knowledge: understood/implied without being stated: knowledge-creation patterns: Explicit-to-explicit: combines explicit knowledge but doesn"t extend knowledge. Explicit-to-tacit: new experiences and knowledge is shared and internalized becomes their own. Cooperatives: owned and operated for and by members. Community contribution companies (c3): allows companies in bc to pursue social goals while still generating a profit, but most of the profit goes back to the community.